Yang Xing's words not only touched Li Zekai, but also made Li Xianyang, who was listening on the side, nodded frequently, obviously feeling worried. Although he is in the position of president of Singapore Telecom, the second place in his family is destined to be able to serve as a match for his elder brother Lee Hsien Loong as soon as he was born. He entered the business world to assist his elder brother in politics, and it is almost destined to replace his father as prime minister in the future.

Although he always acts as a kind-hearted attitude in front of others, it is hard to guarantee that he is not awkward. In addition, he is only in his early forties this year, and is still a younger generation in the Asian business world, which has always liked seniority. Obviously, his interest in Sky Star City is not limited to his role as the president of Singapore Telecom. Yang Xing saw the expression of "Two Li" and knew that his words had successfully resonated with the top figures among the young Asian Chinese businessmen. He was very proud of his heart. In the future, the "Two Li" fought when acquiring Hong Kong Telecom. He would win them over now. At that time, they would be eliminated obediently will be a big gain for Yang Xing.

Sky Star City received such a big response, Yang Xing temporarily changed his itinerary in Singapore for a few more days, and the preliminary preparations for Indonesia's change were more sufficient. Although April 1 was April Fool's Day in Europe and the United States, when Yang Xing replied that Hong Kong had a secret conversation with Bao Haisheng, Bao Haisheng and other government officials looked at the complete Indonesian action plan revealed to them by Yang Xing, but they didn't think Yang Xing was joking with them.

Yang Xing brought not only documents that the central government secretly requested the Hong Kong government to assist in rescuing Indonesian Chinese, but also the previous Hong Kong government reported the central government's instructions to agree to use Hong Kong reserve funds to form a sovereign investment fund to deal with the measures taken by financial speculators to crack down on exchange rates. Even if Bao Haisheng, who knew that Yang Xing had a close relationship with domestic senior officials, looked at the confidential documents that should have been passed through government channels, but instead, Yang Xing, a "civilian", brought them to them, was still a different feeling.

Bao Haisheng now dares not underestimate the young man who has been in the Hong Kong business world, who has risen rapidly and has an unknown mysterious relationship with the country. After experiencing the Hong Kong dollar defense war, the 97 stock market crash, the housing market crash, etc., his opinion on Yang Xing is already "faithful words are good for action." He breathed a sigh of relief: "I feel relieved when I see the central government's approval. You don't know that the Legislative Yuan has been in a state of upheaval in the past few days. Many democrats surrounded the rostrum and prevented me from passing the draft of the establishment of a sovereign wealth fund. He called me a dictatorship and blocking Hong Kong's free financial economy led to a major economic decline. Now he still wants to use the people's hard-earned money reserve funds to help the stock market and foreign exchange market. It is simply a 'prodigal son'!"

Yang Xing looked at Bao Haisheng's sideburns and had only recently seen gray hair, and was quite moved: "Democracy is a good thing, but we must prevent everyone from overcorrecting it in the name of it. The so-called extraordinary things are not understood by those people. International speculators have long been eyeing them and want to repeat the scene of Southeast Asian currencies falling by 50% and the stock indexes plummeted by thousands of points a day. At this time, they are still quarreling with the way and time to take action. I am afraid that they will shut up when their stocks and banknotes turn into waste paper!"

Bao Haisheng grinned and did not agree with him. As the Chief Executive who grew up in Hong Kong, he did not expect Yang Xingdu, who grew up under the Red Banner, to agree with Hong Kong's Western democratic system. However, he was also really troubled by the chaos of shirking each other and fighting for power and profit in the Legislative Yuan. With the iron-fisted image he established in the previous stage, he could barely suppress the noise of the democratic factions. However, international pressure made him overwhelmed, and the financial forces of the major countries represented by speculators,

He has long been dissatisfied with the failures he returned in Hong Kong several times. He was afraid that Hong Kong would follow the footsteps of Malaysia and mainland China, and forcibly adopt capital controls and restrict foreign exchange and financial transactions to defend the Hong Kong dollar exchange rate. In this case, Bao Haisheng did not want the government to enter the market to compete with speculators, leaving the impression that he was both an athlete and a referee. Yang Xing proposed private fund franchise as a supplement, and the establishment of sovereign wealth funds became the only choice for the Hong Kong government.

Using private funds is a trick to fight against poison. International hedge funds are all vultures, and there is no loyalty. It is possible to fight against the other faction, but of course it is not possible to not give them some benefits. However, for speculators led by Soros Quantum Fund and Robertson Tiger Fund, Hong Kong local funds are not yet in a state of chaos and can only play a role in harassment. Even if Yang Xing took the initiative to subscribe to US$200 million to establish a public fund, and mobilized local Hong Kong tycoons to subscribe to the private request of the Hong Kong government, it was only more than US$1 billion, which was really difficult. Therefore, the highlight was still on the two Hong Kong Financial Secretary established by the Hong Kong government, but also on the sovereign wealth funds that were operated.

Sovereign Wealth refers to public wealth corresponding to private funds, controlled and controlled by the government, and usually held in foreign currency. Its main source is different from the private investment method of private funds, but is accumulated by the government through specific tax and budget allocation, certain natural resource income and balance of payments surplus. In principle, it should belong to all citizens of a country. Therefore, the Hong Kong Legislative Council discusses the establishment of such a fund to combat currency speculators, and the various disputes arising from it can be understood.

Sovereign Wealth Fund was actually born very early, and it took shape in the 1950s. The earliest sovereign wealth funds were founded by some countries with weak people but rich natural resources. For example, the famous oil-producing country Kuwait founded the Kuwait Investment Bureau in 1953. The former British Gilbert Islands (now called the Republic of Kiribati) has rich bird guano resources and is a raw material of phosphate-rich fertilizer. In order to prevent bird guano from being dug up one day, they also set up a sovereign wealth fund for bird guano. One day the bird guano is really dug up, and this fund can still allow the people to live a full life because its value is already nine times the country's GDP!

So before the 1980s, the founders of sovereign wealth funds were small countries like Norway and the UAE, mainly as a last resort to prevent future risks. The investment style is very conservative and not valued in the international financial market. However, after the 190s, with Singapore, Saudi Arabia and other countries, they also began to establish sovereign wealth funds, and their investment style began to be active, not only limited to value-preserving projects such as government bonds in developed countries, but their vision has expanded to risky investment portfolios such as stocks, bonds and futures. Among them, the most familiar ones in East Asia are the two sovereign wealth funds in Singapore - Singapore Investment Bureau and Temasek Holdings.

As these two major sovereign wealth funds that have penetrated into various industries in Singapore, their tentacles have now extended to neighboring countries. Temasek invested in telecommunications in Thailand, stock markets in Australia, and infrastructure in Malaysia. When the National Development Investment Company was founded in China, the blueprint was Temasek Holdings. Internationally, they also became very interested in these sovereign wealth funds because of their official colors. The debate on this has not been interrupted. International investment banks simply created an English word (SWFs) to describe it to distinguish other ordinary financial investment tools.

With Hong Kong's financial level and status, it was a natural thing to establish SWFs. However, when the UK was under jurisdiction, the UK advocated financial freedom and it was unimaginable that the government established its own funds. Moreover, the British had a derogatory impression of SWFs, believing that its internal operations were unclear and the news was vague. It was likely that political struggles would affect normal investment behaviors. Internationally, it advocated strict supervision of SWFs.

Therefore, Hong Kong has not set up real SWFs, but the Monetary Authority manages Hong Kong's foreign exchange reserves of more than 100 billion US dollars. It has set up a foreign exchange fund to maintain currency and financial stability under the name of the Monetary Authority. However, the main purpose is to ensure the security of foreign exchange reserves. It is a violation of the law for the Hong Kong government to use it to actively attack speculators. This is also the reason why Bao Haisheng wants to establish a new mountain and establish SWFs directly under the Hong Kong government.

During this period, Bao Haisheng, Secretary for Finance Tu Guangxian and Director for Finance Dai Xiayi have reached a consensus on this and have continued to lobby for President of the HKMA. Due to the stock market plummeting in the second half of last year, a 97 stock market crash that was no less than the 87 stock market crash. With the continuous coveting of the Hong Kong dollar, Ge Chenggang, the loyal disciple of the liberal economics school, finally wavered and agreed that under the premise of the passage of the Legislative Council, the HKMA will cooperate with the Hong Kong government to further improve the supervision of the financial market and prepare for the establishment of SWFs. Now everything is ready, but there is no east wind. No wonder Bao Haisheng is uncomfortable with the Legislative Yuan delaying his proposal for SWFs. And Yang Xing brought good news from the central government, which also made him firmly determined to establish SWFs as soon as possible.

Yang Xing thought about it and suggested that he could think of ways to build momentum for Bao Haisheng among the people and scare the Legislative Yuan members. Bao Haisheng frowned and told him that it would be better not to be too blatant and expose the secret contact channels between the Hong Kong government and the central government. Someone found clues about Yang Xing contacting both sides in the middle, saying that Yang Xing was behind the scenes of Zhuge Liang representing the mainland. Yang Xing smiled and said, "That's right, my method just muddles the water so that you can take advantage of the troubled waters."

After chatting, Bao Haisheng took out a check with a sign of HK$20 million and handed it to Yang Xing. Seeing Yang Xing's strange gaze, Bao Haisheng took the initiative to explain: "This is what my brother asked me to hand it over to you. He is now handling the port route in Hamburg, Germany, and can't leave for a while. This is actually the point of our family. The thing about your attempt to save the Chinese in Indonesia has spread very quickly in private. I support you directly due to the inconvenience of official identity, but as a Chinese, I have to do some things for this. In addition to my family, I have also greeted the four major families in Hong Kong. If something really happens in Indonesia, the Hong Kong government and the people will do their best to draw personnel and funds to support you!"

Yang Xing took the check with some emotion, thinking that the outside world has always criticized Hong Kong as a place where personal feelings are weak, but in fact, every time his nation encounters a major disaster, the first person to stand up to donate is Hong Kong people. Many people in China do not know that after the reform, Hong Kong, with a population of only 6 million, is often the first place in the donation area. In the face of natural disasters, the kindest side of Hong Kong people in the hearts will always radiate the glory of human nature, which also makes him more determined to help Hong Kong overcome the financial crisis and defeat international speculators!
Chapter completed!